OneKey, a crypto hardware wallet manufacturer based in Hong Kong, has raised $20 Million in Series A funding. OneKey claims to have the Eastern Hemisphere’s number one hardware wallet. OneKey, a Hong Kong-based crypto hardware wallet manufacturer, has raised approximately $20 million in a Series B funding round.
OneKey announced the news via Twitter on Wednesday. It said that the round was headed by Ribbit Capital and Dragonfly. Ethereal Ventures, Framework Ventures (Folius Ventures), Sky9 Capital, Folius Ventures, and Coinbase Ventures were also part of the round. The round was also supported by angel investors such as Santiago Santos, and Feng Liu.
Onekey’s software code is open source
OneKey claims that its code is completely open source. OneKey claims that if a crypto wallet does not operate in this manner, it could conceal a backdoor that could compromise customer assets. Wang tweeted today that OneKey is the only open-source hardware wallet and uses a certified secure chips.
OneKey was founded in 2020 and claims to be the Eastern Hemisphere’s number one hardware wallet. Wang claimed that OneKey had taken custody of crypto assets worth billions of dollars and is growing rapidly. He cited “incomplete third-party statistics.”
He said that OneKey’s devices are being used by many employees of rival wallet maker Ledger, and crypto firms Alchemy, Infura and Alchemy, citing data taken from their shipped orders.
OneKey plans to expand support for blockchains in order to continue its growth. Wang stated that OneKey will be adding around 40 networks annually to all public blockchains. This will “help users store and stake their crypto assets and NFTs”
OneKey currently employs around 30 people and plans to keep the company small. Wang stated that OneKey is focused on reducing the burn rate and prioritizing long term profitability. He also said that there are no plans to create a native token.